How to retire with millions (and pay $0 taxes)

**Ankur Nagpal** (0:00)
I have now met so many regular people with eight and nine-figure raw diaries on which you won't owe any taxes at all. And a lot of them have done that with vanilla investing.

**Shaan Puri** (0:19)
I think that we're gonna do basically like, first half of this is like money tips, meaning like, you know, sort of like personal finance stuff that nobody really teaches you, you know, because we get most of our personal finance information either in from two really bad sources, either your parents who probably only knew so much. And like when you're a little kid, you think your dad knows everything. But then when you grow up, you're like, oh, he's just a guy. And like, you know, he did the best he could with what he had. And the other thing is like, you know, TV or books or salespeople who was like, their incentive is very different than yours, right? Like one of my favorite YouTube videos is like about it has a picture of Jim Cramer. And it says, will this will this very loud man make me money? It's like, no, he will not. The blinking lights on this guy's screen and that this money guy on TV is not the guy to listen to. So we'll do that. And then you had a bunch of business ideas also, like that you've been brainstorming your cheat sheet of startup ideas. So we'll go to that after.

**Sam Parr** (1:08)
But, Shawn, do you do you guys know each other? Well, by the way, I don't even know.

**Shaan Puri** (1:12)
We've never hung out in person.

**Ankur Nagpal** (1:13)
We've never hung out. We've exchanged. We've tried to hang out. Haven't hung out. The last episode was the closest we've gone.

**Shaan Puri** (1:20)
I like it every time we talk.

**Ankur Nagpal** (1:21)
Yeah.

**Sam Parr** (1:22)
So let me introduce you, Shawn. This is my friend, Ankur. This is my friend, Shawn. I've known Ankur since 2012 or 2013, and we've been buddies since, and I've known Shawn since 2013, 2014

**Ankur Nagpal** (1:34)
I think I'm one of the only people at this point that's met Sam through the Internet who's had beers with him. That's how far back we go.

**Sam Parr** (1:41)
It was a long way. It was a long time ago.

**Shaan Puri** (1:43)
So give his background, his bio.

**Sam Parr** (1:47)
So when I met Ankur, he was doing a Facebook app that went viral, and he made his first couple of million dollars at the age of like 26 or 27

**Ankur Nagpal** (1:55)
No, bro, 20

**Shaan Puri** (1:56)
What was the app?

**Ankur Nagpal** (1:59)
All the silly stuff, personality quizzes, friend quizzes, like answer seven questions and you find out how good a kisser you are, crazy stuff like that.

**Sam Parr** (2:07)
Then he started a company called Teachable. He was early on the course game.
He didn't quite bootstrap that company, but he owned the majority of it and sold it for something like $150 million, which I'm sure you're going to correct me if I was too low. And then now you have a new company called Carrie. Was I too low?

**Ankur Nagpal** (2:23)
It's 250, but close enough.

**Sam Parr** (2:25)
Oh, no, that's not even it.

**Ankur Nagpal** (2:27)
It's all around the year at that point.

**Sam Parr** (2:29)
But you made like $100 million when you were what, 32 years old?

**Ankur Nagpal** (2:32)
Yep.

**Sam Parr** (2:33)
I mean, that's insane, right?

**Shaan Puri** (2:36)
Did it feel more insane to make a million dollars on a silly Facebook app? Like how good of a kisser are you? Or was it more insane to make $100 million on this company that you, you know, this education company?

**Ankur Nagpal** (2:46)
Zero to something is always more life changing, undoubtedly, right? Like, that was also the time where I just moved to America. I was an international student. I didn't really have, I was so new to everything, but like making money in college allowed me to like not go to class and like realize that if I can do things on the internet, like why, why ever get a regular job?

**Sam Parr** (3:06)
How much money did you have in your bank account before you sold Teachable?

**Ankur Nagpal** (3:10)
Like one and a half, two, like basically I was flat. I didn't really spend money or grow money during that entire sort of time. Paid myself eventually a salary of 150 grand, which in New York was like roughly my life break even.

**Sam Parr** (3:23)
So then they, when you, when you got your exit, you just moved the decimal points, it plays like two points, right?